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| Sanctioned Iranian Crude Oil Shipment Stuck off Texas Coast, Raising Concern among Shipping Companies |
| 2023-07-26 |
| [Shafaq News] A shipment of Iranian crude oil, subject to international sanctions, remains stranded off the coast of Texas in the United States eight weeks after American authorities seized it. Informed sources reported that the tanker, named Suez Rajan and flying the Marshall Islands flag, has been anchored near Galveston, just outside Houston, since May 30. Commercial agents and shipping companies are hesitating to handle the cargo due to fears that potential customers may avoid dealing with any tanker involved in transporting sanctioned Iranian crude oil. This concern has led to difficulties in finding a party willing to unload the cargo from the Suez Rajan. A source familiar with the situation mentioned that shipping companies are apprehensive about potential repercussions from other oil buyers if they handle Iranian crude oil. However, nothing needs reforming like other people's bad habits... the source cited reassurance from their legal team, stating that the situation would not lead to negative consequences. The challenges in unloading the shipment stem from various factors, including the fear of Iranian reaction. Tehran has issued threats of strong responses against any oil company that unloads Iranian oil from a seized tanker, raising tensions and complexities around the situation. The Iranian Oil Ministry was not available for immediate comment on the matter. Despite reportedly obtaining the necessary approvals from the United States to unload the cargo, the Suez Rajan has been unable to proceed with the transfer. |
| Posted by:trailing wife |
| #2 July 11, 20221: OSLO, July 11 (Reuters) - Frontline (FRO.OL) and rival Euronav (EUAV.BR) have signed an all-stock merger deal to create a market-leading oil tanker group with 146 vessels including 68 Very Large Crude Carriers, the companies said on Monday. The firms expect the merged company to have a market capitalisation of more than $4 billion and the merger to generate synergies of at least $60 million a year... |
| Posted by: Chaiger Henbane8193 2023-07-26 09:38 |
| #1 Brian Gallagher, a front man for Euronav, told the AP in a statement that the company "has and always has taken all the appropriate measures and protocols to ensure we are in compliance with all regulations." He added if the allegation the oil is Iranian is proven, "the cargo will be returned to the third party who delivered it." Euronav trades on the New York Stock Exchange. |
| Posted by: Chaiger Henbane8193 2023-07-26 09:35 |